The “Kimchi Premium” phenomenon continues to heat up the recent cryptocurrency market. It drives the upsurge of trading digital assets in South Korea. While Bitcoin price was recorded at around US$58,000, it was on the other hand selling at above US$70,000 in local exchanges. “Kimchi Premium ” arisen for several reasons, including capital control and lack of other high-return investment opportunities. The price difference between Korean and foreign exchanges became an arbitrage chance for investors to trade the same coin with a larger profit. And that is the basic idea of why the Kimchi Premium situation has turned into a crypto fever in South Korea. With the assistance of crypto trading tools like exchange platforms and trackers, investors capture the best time to trade your assets!
However, the Kimchi Premium is exclusive to local crypto investors. As South Korea’s regulation limits foreign investors from trading on domestic exchanges. Only local investors or legal residents in Korea with a valid Korean phone number, bank account, and a government-issued ID card can exchange digital assets on Korean exchange platforms.
The following article will go through four exchange platforms and two trackers. Then you can capture the Kimchi Premium fever strategically.
Follow The Kimchi Premium Index With Trackers
In order to maximize the profit from Kimchi Premium, investors have to pay attention to the price movements in the volatile crypto market. Further, investors also could make use of the Kimchi Premium trading trackers to help you with monitoring the best timing to trade in or out. There are plenty of tools that you can use to track the price and benefit from the Premium.
Trading View – Providing Different Kimchi Premium Price Charts
The charts provided on Trading View display the price of Kimchi Premium traded in South Korea, showing all the previous positive and negative events. Some of the charts demonstrate both prices for coins traded at foreign exchange Coinbase, and the local exchange, Bithumb. Thus, investors could compare both prices and get to know the different quotes. The charts on Trading View can be freely used, and investors can also play to see the price movement.
Crypto Quant – Another Useful Tool For Price Tracking
Crypto Quant is a South Korea-based analytics firm. You can track the Bitcoin price gap between South Korean exchanges and other foreign exchanges. In this chart linked, the positive value indicates the Kimchi premium. Like the price index charts provided by Trading View, investors can use this as a reference to monitor Kimchi Premium’s price movement.
Capture the Korean Crypto Fever
Bithumb – BTC/KRW Exchange on the Domestic Platform
Apart from the Kimchi Premium trading trackers, investors would also need reliable crypto exchanges to trade your digital assets with. Local investors could gain from the Kimchi Premium arbitrage trading from trading at Korean exchanges, namely Bithumb. While the premium reappeared, Bitcoin.com has recorded an increase in the domestic platform’s BTC/KRW exchange. And, other popular digital assets on Bithumb also saw the premium result as well.
Upbit – Another Domestic Cryptocurrency Platform
Another domestic cryptocurrency platform, Upbit. The Bitcoin prices once plunged to 79.5 million on Upbit in April and made at least a 20% differential. Along with the widening gap, the trading between overseas exchange and domestic exchanges provides great arbitrage opportunities.
Binance – The world’s biggest bitcoin exchange
Cryptocurrency prices traded at foreign exchanges like Binance and Crypto Pro are lower than South Korean exchanges, but they are used as a bridge to earn arbitrage. Binance, as a renowned global exchange, surely is a trustworthy platform for trading. It welcomes crypto traders around the world, as long as you are here to trade coins with fiats.
Crypto Pro – The one-stop OTC for Kimchi Premium
We offer a one-stop solution, allowing you to sell crypto assets in Korean exchanges and wire back to earn from the arbitrage. You could also capture 15%+ daily profit from Kimchi Premium with Crypto Pro. We offer instant exchanges between cryptocurrencies and fiats, including exchanges between BTC/USDT and USD/HKD. You could exchange your fiats for crypto coins, like Bitcoin on our platform, then resell them on South Korea’s exchange to earn the price gap eventually!
Note that the cryptocurrency market always fluctuates, and every investment has a certain level of risk. Investors should always evaluate the associated risk level before investing in any of the investment options!